Summer Budget 2015 – Landlords Reactions

7.1.17. Is taxation theft?
Is taxation theft? Some people say so, but the term is loaded and therefore perhaps
best avoided in a discussion of the morality of taxation. Unlike theft, taxation at least
has the justification that it is usually imposed only by the decision of a majority, after
public debate, and for public rather than private purposes.
Nevertheless, if two strong people took money from a third by force and spent it
on themselves, we would certainly call it theft, even if they tormented their victim by
first holding a vote on the matter. If 51 per cent take money by force from the other
49 per cent and spend it as they think fit, is there really such a big difference?
But such name-calling is hardly necessary. It is evident that high taxes are not
moral, or generous, or the hallmark of a humane society. On the contrary, they
are coercive, they undermine personal morality and responsibility, they diminish
prosperity and crowd out charity, they are divisive and inefficient, they reward power
and discourage creativity and they turn both people and governments into cheats.
The moral case against them and against the high levels of spending from which they
arise, in other words, is quite strong enough.

Reply to the comment left by “KATHY MILLER” at “26/10/2015 – 17:21“:

The economics could change if the same VAT relief as new build was available – brownfield development and conversions are currently disadvantaged.

Given the fact that the IFS is featuring hugely in the ‘constitutional crisis’ we all need to keep shouting loudly about how the IFS also completely condemned the other tax change in the Summer Budget. This is brilliant ammunition and we need to use it. I’ve just written to two journalists about it and I would encourage others to send even quite short notes about this to MPs etc.

Cebr says average house price will leap £60k in next five years

http://www.thisismoney.co.uk/money/mortgageshome/article-3288540/Average-UK-house-price-jump-nearly-60-000-five-years.html#ixzz3pidwN7x3

That will do me just fine, now just need to stay on the log for 5 more years !
This is all going to get very interesting…..
It doesn’t really follow any HPCrash ideas does it ? I wonder what those in the twilight zone will make of this !

Here are five key reasons given by property forecaster Cebr as to why the supply of homes for sale has been drying up, putting an upward pressure on prices:

– Households expect property values to keep rising. People want to sell at the top of the market, but at the moment few anticipate a downturn in prices.

– Demographic changes and the UK’s ageing population. Home ownership has risen dramatically among older households since 1981, but has collapsed among younger households. With retired people less likely to move home, this is curbing the number of people putting property up for sale.

– A substantial increase in the cost of moving up the property ladder, especially in London. Moving up the property ladder has historically been a key reason to sell a home.

– Low levels of housebuilding are reducing the number of new builds being put up for sale in the UK.

– The high cost of moving home, with stamp duty costs curbing house moves. This is particularly the case at the prime end of the property market, which saw a substantial increase in stamp duty rates in last December’s Autumn Statement.

Here is how Cebr expects average UK house prices to increase between 2015 and 2020.

The average price is followed by the year-on-year change:

For 2015 – £263,000, 5.6 per cent

For 2016 – £272,200, 3.5 per cent

For 2017 – £283,600, 4.2 per cent

For 2018 – £295,600, 4.2 per cent

For 2019 – £308,400, 4.3 per cent

For 2020 – £321,600, 4.3 per cent

http://www.thisismoney.co.uk/money/mortgageshome/article-3288540/Average-UK-house-price-jump-nearly-60-000-five-years.html#ixzz3pijDYVsk

Reply to the comment left by “Trendo ” at “26/10/2015 – 23:27“:

Very interesting Trendo. And we note that one of the 5 reasons given was NOT ‘those awful landlords negotiating prices up.’

Savills “weather chart” halfway down this doc is also optimistic and sees no HPC …rather the opposite it seems !

http://www.thisismoney.co.uk/money/mortgageshome/article-1671748/House-prices-What-expect-news-predictions.html

GO & DC are getting overexcited about attempts to break constitutional convention !!

Karma is swift ….

There is a far older & more fundamental convention that they themselves are attempting to break

“profit to be taxed = income – expenses”

Not turnover

May karma take huge chunks out of their arses.

Dear Kathy (if I may),

Thank you very much taking the trouble to write to me and for your support. I very much appreciated this.

I am pleased that the Government are now in listening mode regarding the Tax Credit issues but really disappointed that Labour colleagues in the House of Lords did not vote with us to reject the regulation entirely. Had Lib Dems taken the same approach, by not voting with Labour, the Government’s Tax Credit regulations may have gone through.

Regarding clause 24 in the Finance Bill unfortunately, I do not deal with this Bill but I have noted your concerns. I have also copied into this email, my colleague Baroness Kramer, who is responsible for this area so she is aware of your concerns.

Thank you very much again for writing to me.

Kind regards,

Baroness Manzoor C.B.E of Knightsbridge

Liberal Democrat Spokesperson for Work and Pensions

House of Lords

London SW1A 0PW

From: Contact HL Member
Sent: 26 October 2015 10:07
To: MANZOOR, Baroness
Subject: FW: TAX CREDIT CUTS AND CLAUSE 24

From: kathymiller [mailto:[email protected]]
Sent: 23 October 2015 19:53
To: Contact HL Member
Subject: TAX CREDIT CUTS AND CLAUSE 24

Lisa
Thank you for your e-mail.
I’m afraid that the House of Lords does not have the power to amend Finance Bills – unlike the motion on tax credits yesterday which did not relate to Finance Bill legislation. So I am afraid I cannot help.
All good wishes.
Dick Newby

Lord Newby
Liberal Democrat Chief Whip